Gold prices in India saw a sharp decline on Friday, driven by rising crude prices, a stronger US dollar, and renewed geopolitical tensions between the US and Iran, leading to significant drops across all major categories.
Gold prices in India fell sharply on Friday, August 14, 2026, with benchmark rates and retail prices at major jewellers coming under pressure as selling intensified on MCX and in the wider bullion market. GoodReturns reported that the slide was driven by elevated crude prices and a firmer US dollar, while market sentiment was also unsettled by renewed geopolitical tension between the United States and Iran. The result was a broad drop across 24-carat, 22-carat and 18-carat categories, with losses ranging from about ₹5,300 to ₹7,100.
The most pronounced declines were seen in the standard market benchmarks. According to GoodReturns, 24-carat gold fell by ₹7,100 per 100 grams to ₹15,28,900, while 22-carat gold dropped ₹6,500 to ₹14,01,500 per 100 grams. Eighteen-carat gold also weakened, slipping ₹5,300 to ₹11,46,700 per 100 grams. On a per-10-gram basis, that translated into rates of ₹1,52,890 for 24-carat gold, ₹1,40,150 for 22-carat gold and ₹1,14,670 for 18-carat gold.
Retail prices at leading chains broadly tracked the weakness. Tanishq listed 22-carat gold at ₹14,060 per gram, down ₹100 from the previous day, while its 24-carat rate stood at ₹15,338 per gram and 18-carat gold at ₹11,504 per gram. IBJA’s purity-based benchmarks put 999 gold at ₹15,149 per gram and 916 purity at ₹13,877 per gram, with silver and platinum also quoted lower on the day.
Other major jewellery retailers showed similar pricing. GoodReturns said Malabar Gold, Kalyan Jewellers and Joyalukkas were all quoting 22-carat gold at ₹14,015 per gram, or ₹1,40,150 for 10 grams. City-wise, Chennai remained the priciest among the centres listed, with 24-carat gold at ₹15,317 per gram, slightly above Mumbai, Kolkata, Bengaluru, Hyderabad and several other metros.
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